Oil prices drop with weekly U.S. supplies up over 4 million barrels and COVID cases on the rise

Oil futures drop on Wednesday, with global crude benchmark prices settling at their lowest since June in a risk-off day for markets. U.S. government data reveal the biggest weekly climb in domestic crude stockpiles since July and the continued surge in COVID-19 cases feeds expectations for lower energy demand. 


 
Analysts Expect 34 Billion Cubic-Foot Rise in Natural Gas Storage

U.S. government natural-gas data due Thursday are expected to show inventories increased last week by 34 billion cubic feet -- an amount well below normal for this time of year. 


 
Trump Weighs Executive Order to Show Support for Fracking

President Trump is considering issuing an executive order mandating an economic analysis of fracking, according to senior administration officials, who say the initiative is aimed at highlighting his support for the energy industry in battleground states. 


 
SoCal Edison Says It May Have Caused Orange County Wildfire

The Silverado Fire has consumed more than 11,000 acres of tinder-dry brush in the foothills above Irvine and other cities south of Los Angeles. 


 
BP Posts Fifth Straight Quarterly Loss

U.K. energy company BP reported a fifth consecutive quarterly loss, providing the first glimpse of how major oil companies navigated the third quarter amid a prolonged slump in demand. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires. 


 
Robert Murray, Stubborn U.S. Coal Titan, Dies at Age 80

Robert E. Murray, who used an aggressive acquisition strategy to build Murray Energy into a coal-mining giant even as falling prices drove rivals out of business, died Sunday. 


 
PG&E Cuts Power to Hundreds of Thousands

PG&E said it was pre-emptively cutting power to about 361,000 customers in northern and central California in an effort to prevent wildfires, marking the largest such shut-off it has reported this year. 


 
Auto Makers Shift Hydrogen Focus to Big Rigs

Auto makers have spent decades developing hydrogen fuel cells as a green alternative for cars with little to show for it. Now, they are shifting their attention to the trucking industry. 


 
Fed's Purchase of Energy Company Debt Continues to Raise Questions

The Federal Reserve's purchase of bonds issued by energy companies continues to draw scrutiny, even as central bank officials say it is part of their broader efforts to support corporate borrowing and is intended to help the economy navigate the coronavirus pandemic.

(END) Dow Jones Newswires

10-29-20 0415ET